For many people, filing tax returns is one of the most complex and confusing tasks. This is because tax laws are very intricate. One has to pay tax on his taxable income which usually includes salary, interest on investments, capital gains, prizes, and pensions. Then there are tax deductibles as well, income on which no tax is levied. A person with little or no knowledge about the income tax laws ends up having a nerve wrecking experience at the...more
The most frequently asked question by tax payers is how to file their Alabama state taxes online?The younger generation is really not aware of the various ways of Alabama state tax filing. Few among them rarely question themselves as to how to file their state taxes online. Many a time, the youth resort to their parents or guardians for filing their taxes. The parents or guardians in turn file their taxes instead of explaining them. But nobody...more
The IRS plan for return tax preparer registration is scheduled to begin September 2010 and will affect nearly every professional tax preparer in some way. Paid tax preparers must register with the IRS to obtain a Preparer Tax Identification Number, pass an IRS exam and satisfy annual continuing education.The definition of a professional tax preparer or paid tax preparer is as follows: all individuals, Attorneys, Certified Public Accountants and Enrolled Agents who are compensated for preparing, or assisting in the preparation of, all or substantially all of a federal tax return or claim for refund or who sign, or are required to sign, a federal tax return or claim for refund as a paid tax return preparer. Any individual falling under this category must obtain a Preparer Tax Identification Number (PTIN). All paid tax preparers must obtain a PTIN in order to sign any federal tax returns or forms. The PTIN they obtain will be valid for three years. Testing of these preparers who hold a PTIN will not be implemented until after registration and mandatory PTIN usage are in place. Employees of a business who fill out their employers return will not be required to obtain a PTIN.All paid...more
However, a Roth IRA is similar to other Individual Retirement Arrangement plans, when non qualified distributions are made it may be subject to penalty upon withdrawal. This is one of the smart ways for a young person to invest and benefit.The major advantages of a Roth IRA over other regularly taxed account or deductible account are good ones and...more
If you're like most people, paying taxes can be a confusing process that you never truly understand. Many people go through the whole process thinking they finally figured out the system, but then come to find out you still owe money to the IRS. Make sure you put exactly how much money you make during the year; never put less and never put more....more
Most everyone knows the old adage about the certainty of death and taxes but many fail to understand that tax laws are constantly changing. It isnt difficult to find yourself facing the Internal Revenue Service for failure to pay all the taxes they believe you owe. Your ignorance of a change in tax laws isnt going to hold much water when faced with tax evasion. The best way to avoid a showdown with the dreaded Internal Revenue Service is to enlist the expertise of a Tax Attorney.Although a tax lawyer is not an accountant and is seldom involved in the process of filing your taxes with the IRS, they can be invaluable in helping you to avoid future tax pitfalls that could draw the attention of the Internal Revenue Service. They are not only committed to keeping up with the ever-changing tax laws, they are also adept in offering advice when setting up your business, trust funds, stock portfolios, etc. Why risk the possibility of future tax problems when they can be avoided by enlisting a tax expert?If you have inadvertently slipped into the black hole of an Internal Revenue Service audit, you definitely need a Tax Attorney to guide you back to the light. Attempting to fight this battle...more
Have you ever wondered why individuals constantly bet on even the smallest or simplest events? The answer to this is simple. People actually love to bet because it gives the the activity more sizzle. Aside from the adrenaline rush that...more
If you're scared, short of time or don't feel confident doing the research when looking for complex financial products, you'll find financial advice worthwhile. Yet if you're money savvy, my instinct would be to DIY it, as it's cheaper. This involves...more
The tax brackets and various related benefits remained unchanged in this year or they changed very slightly. Since slow economy and low inflation continued in 2010, there are only nominal changes from the last year tax brackets. The CPI...more
Bookkeeping and tax planning are two essential lifelines of a business irrespective of the nature of your business. Rick E. Norris Bookkeeping Services Los Angeles and Business Tax Accountants help your business grow successfully by...more
There are many individuals and companies who think they can get around the legalities of paying taxes, but the truth of the matter is that everyone who has an income has to pay taxes in the United States.There are often television specials, books,...more
Everyone knows that the authentic NFL jersey are very expensive. Most football fansare confident in their support and desire to take the real thing. But this is notfeasible for everyone.If a fan is more interested in authentic...more